The new majority owners of Coperion Holding GmbH are making a change in top management at the U.S. headquarters in Ramsey, N.J.
A spokeswoman confirmed that Michael Kenny is no longer president and chief executive officer of Coperion Corp. in Ramsey. The move was made April 4.
Dieter Ohl, the chief financial officer of Coperion Corp., will serve as interim president and CEO.
Coperion, based in Konstantz, Germany, makes Werner & Pfleiderer compounding extruders, Buss kneaders and Waeschle materials-handling systems.
Kenny is a 24-year-veteran of W&P who was promoted to the top position at Coperion Corp. in 2001.
He will remain as a special assistant to management and the board of directors of the U.S. operation, according to the spokeswoman.
She said Coperion officials in Europe expect to name a full-time president and CEO soon.
Coperion formed in 2000 after Swiss machinery maker Georg Fischer AG and an investor group bought Krupp Werner & Pfleiderer GmbH from Germany's Thyssen Krupp AG.
Fischer already had owned Buss and Waeschle.
Under the original arrangement, Fischer of Schaffhausen, Switzerland, had owned slightly more than half of Coperion as majority owner.
Two equity partners held 49.9 percent of the company.
Last fall, Georg Fischer turned majority ownership over to the equity firms: London-based West Private Equity Ltd. and Westdeutsche Landesbank Girozentrale of Dusseldorf, Germany.
Georg Fischer said it would retain a minority stake in Coperion, but no longer would be involved in operational management. Fischer said it wanted to focus on its core business of automotive products, piping systems and factory technology.